The intermediation of the US president, Donald Trumpin the conflict between Russia and Ukraine, it highlights Washington’s restlessness in the face of the shortage of Rare earth and China’s control over these essential raw materials to build electronic components.
In the last five years the critical mineral market has doubled its size, up to 320,000 million dollars, and it is expected to double again before the end of the decade, according to a report by Goldman Sachs.
Faced with this rebound in demand, the supply remains concentrated in China, where the analysts themselves estimate that it brings together between 85 % and 90 % of the refining, and 92 % of the manufacturing of magnets of elements of elements of elements of elements of Rare earth.
Enrique Feas, researcher at the Royal Institute El Cano, explains to EFE that they are “key” materials for Industrial production on which China has established control and uses “notices” when there are commercial tensions.
Despite his name, Rare earths They are a set of 17 Chemical elements -15 types of lantanids plus the scandio and the itch- that share many properties and usually meet together in nature.
These are added to other essential materials, although not Rare earthsuch as Wolframium, Telurio or Molybdenum, which have also become essential in the energy and digital transition to Build screensbatteries or solar panels.
Ugly explains with the arrival of Donald Trump to The White House There has been a great change: before the European Union (EU) worked on the management of materials from the perspective of “collaboration” with the US, it is now a “save who can”.
From Ukraine to Greenland
China’s control of Rare earths He has led other international powers to seek alternatives to protect his supply chains.
A report by the Wisdom Tree manager recalls that the World Bank suggested in 2020 that the production of critical minerals, including Rare earthit could increase almost 500 % to 2050, and projects that countries such as the United States, Australia, Brazil and Vietnam, among others, increase their operations in the coming years.
US interest
In the case of Ukraine, Rare earths They have gained special relevance in US intermediation in the conflict.
The Ukrainian President, Volodimir Zelenskioffered Trump his willingness to reach an advantageous agreement for the US on the country’s natural resources, which in addition to the Rare earth It could include minerals that are already extracted, such as aluminum.
Some estimates place Ukraine among the top ten countries in potential for extraction of Rare earth “Among the ones that highlight the Scandio or the ititrium.
Trump is also interested is Greenland, Denmark Autonomous Territory that houses the Kvanefjeld (chrienfil) mine, which can be the second largest site of Rare earth of the world.
Some studies predict that under the ice of Greenland would be up to 25 % of world reserves of these elements, which would explain the ambitions of the American and Chinese magnates.
The alternatives for Rare earth
The European Union adopted in 2024 a regulation to guarantee the safe and sustainable supply of raw materials that they consider “crucial” for Ecological transitions and digital, as well as for defense and spatial industries.
Sweden is the European country with the largest reserves, with studies that point that it contains 1.3 million tons of oxides of Rare earthalthough even if they could be extracted, the problem would be the lack of refining plants, which would not solve the dependence of China, points to Efe Vicente Gutiérrez, of the Spanish Confederation of the industries of the mineral raw materials.
Therefore, it emphasizes that any extraction plan It must be accompanied by the installation of refining plants.
